When a new company is formed, the min cap is Rs 100,000 in case of a pvt ltd co.
But actual inflow/outflow of funds (cash/bank) can not be seen as capital contribution by directors.
What JV should be passed in books of a/c?
Another query is that can a director bring his land (20 years old) as his capital.?
(Its purchase price was 69500 but fair market value is rs 350000.)
if so then what amount should be recorded in books??
CAclubindia
